StockNews.com Begins Coverage on Surmodics (NASDAQ:SRDX)

Research analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Saturday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

Shares of NASDAQ:SRDX opened at $39.33 on Friday. The business has a fifty day moving average of $38.49 and a 200-day moving average of $39.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The firm has a market cap of $563.44 million, a PE ratio of -48.56 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. On average, equities research analysts predict that Surmodics will post 0.17 EPS for the current fiscal year.

Institutional Trading of Surmodics

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC boosted its position in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in Surmodics during the third quarter worth about $67,000. SG Americas Securities LLC grew its stake in Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after acquiring an additional 660 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares in the last quarter. Finally, Hardin Capital Partners LLC acquired a new stake in shares of Surmodics during the second quarter worth about $206,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).